California Statutes
§ 24360. — 24360. (Amended by Stats. 2000, Ch. 862, Sec. 147.)
California·Code RTC Revenue and Taxation Code - RTC·Div. 2. DIVISION 2. OTHER TAXES·Part 11. PART 11. CORPORATION TAX LAW·Ch. 7. CHAPTER 7. Net Income·Art. 1. ARTICLE 1. Deductions
In the case of any bond, as defined in Section 24363, the following rules shall apply to the amortizable bond premium (determined under Section 24361 on the bond):
(a)In the case of a bond, the amount of the amortizable bond premium for the taxable year shall be allowed as a deduction.
(b)In the case of any bond the interest on which is excludable from gross income under Chapter 3 (commencing with Section 23501), no deduction
shall be allowed for the amortizable bond premium for the taxable year.
Free access — add to your briefcase to read the full text and ask questions with AI
California § 24360. (24360. (Amended by Stats. 2000, Ch. 862, Sec. 147.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Stats. 2000, Ch. 862, Sec. 147. Effective January 1, 2001.